NALCO cuts aluminium ingots price with effect from April 23
National Aluminium Co Ltd has cut the prices of its aluminium ingots for the fourth time in a row. With effect from Thursday, April 23, the prices of ingots came in at INR 142,150-145,650 per tonne, down nearly 1% from 143,150 per tonne-146,650 per tonne on April 17.
With the latest cut, the price of aluminium billets now stands at INR 145,600 - 148,250 per tonne, down from INR 146,600 - INR 149,250 per tonne.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract is down more than 18% so far in 2020 due to slower global demand following the coronavirus outbreak.
Aluminium products and alumina account for nearly two-thirds of NALCO's gross topline, while the sales of chemicals contribute to the rest. NALCO manufactures wire rods, billets, coils, and chequered sheets.
Grow with
AL Circle
